Veeam lifts term loan B to $2 billion, flexes to SOFR plus 325 bps

By Sara Rosenberg

New York, April 5 – Veeam Software upsized its term loan B due April 2031 (B2/B) to $2 billion from $1.96 billion and trimmed pricing to SOFR plus 325 basis points from SOFR plus 350 bps, according to a market source.

Also, the original issue discount on the term loan was changed to 99.75 from 99.5, the source said.

The term loan still has a 0% floor and 101 soft call protection for six months.

JPMorgan Chase Bank is the lead on the deal.

Proceeds will be used to refinance the company’s existing term loan B and seller note.

Veeam Software is a Columbus, Ohio-based provider of backup solutions that deliver cloud data management.

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